While we also discussed the cost to build a new home in JH and surrounding bedroom communities, we did not explore the cost of the land to build your home on. With the recent skyrocketing cost for single-family platted lots in Jackson Hole we felt it important to discuss the issue further in this report.
At the end of 2023, there were 1,292 vacant single-family platted lots in the valley. Today there are 1,242. These lots can range in size from .17-acre (50ft x 150ft) in the Town of Jackson (TOJ) to 35+ acre lots. These only allow one primary residence per lot.
When we first moved to Jackson in 1992, the average sale price for a single-family lot valley-wide was $181,000. You could also buy a nice “Teton view” lot backing national forest, in the Town of Jackson for $70,000. Today the average list price for a single-family lot valley-wide is $5.56 million, and the average sale price for a lot in the TOJ as of Q3 2024 was $1.13 million. Note: The $70,000 “Teton view” TOJ lot back in 1992 would fetch well over $2 million today.